27th June 2006
BBA GROUP PLC
MALCOLM COSTER APPOINTED CHAIRMAN DESIGNATE OF FIBERWEB
BBA Group Plc is pleased to announce that Malcolm Coster (61) has
been appointed non-executive Chairman of Fiberweb with effect from
the date of its demerger from the BBA Group. Pending the separate
listing, Malcolm, as Chairman Designate, will act as part of the Fiberweb
advisory committee responsible for reviewing and approving a number
of specific items relating to the demerger. The appointment marks
an important step in the planned demerger of Fiberweb in the last
quarter of 2006.
Malcolm is currently Chairman of MTL Instruments Group Plc, an internationally successful equipment manufacturer and supplier, and DMW Group, a technology consultancy. He is also a non-executive director of BTG Plc and an external Director of the Performing Rights Society.
Malcolm graduated with a Special Honours Degree in Mathematics from Kings College, London and started his career with the Corporation of Economic and Industrial Research. After 11 years with British Petroleum Company Plc where he served as Global Head of IT he joined Coopers & Lybrand (now Pricewaterhouse Coopers) where he spent 8 years as Executive Partner and Board member.
As President of Unisys Corporation in Europe, Middle East and Africa he led a successful turnaround across 53 countries and saw its transition from a computer hardware and software company to a services and solutions organisation.
In recent years as a Chairman/CEO and Board member, Malcolm has been involved in many international acquisitions and several company flotations, including the successful demerger of Torotrak Plc from BTG Plc.
BBA Group CEO, Michael Harper, commented,
"I am very pleased with Malcolm’s appointment and confident that his impressive track record as both an executive and non-executive with a wide range of companies will help ensure Fiberweb is successful as an independent business. His experience of bringing companies to market will be invaluable over the coming months as we work towards the demerger of Fiberweb later this year. "
Malcolm Coster, Chairman Designate of Fiberweb, commented,
“I am delighted to be taking on the role of Chairman at this exciting moment in Fiberweb’s development. I very much look forward to working with the BBA Board and the Fiberweb management team to deliver a successful demerger and to building value for our shareholders as an independent business.”
Enquiries:
BBA Group
Michael Harper, CEO
020 7514 3999
Brunswick Group LLP
Mike Smith / Kate Holgate / Lucie Anne Brailsford
020 7404 5959
2005
Preliminary Results Presentation, 28th February 2006